08/20/2014
Bitcoin: Australia's tax office announces it will not treat popular digital currency as money
The Australian Taxation Office will not treat Bitcoin transactions as money, fuelling fears the industry will be driven offshore or underground.
Tax
08/19/2014
AUSTRALIA: Accountants unprepared for regulation change
Less than 50 per cent of accountants have begun preparing for the end of the accountants’ exemption, an industry poll has revealed.
08/18/2014
Tax Office freezes assets of Perth investor
THE Australian Taxation Office has frozen the bank accounts of an Australian investor and a $9.5 million share portfolio including stakes in blue-chip stocks Wesfarmers and Coca-Cola Amatil in a clamp down believed to be a part of Project Wickenby.
08/15/2014
Baker Tilly International adds Japanese firm to network
Baker Tilly International has yet to find a replacement firm for Baker Tilly in the UK but it is busy strengthening its network of firms elsewhere
08/14/2014
Pakistan in bid to crack down on tax evasion
The Pakistan Government has decided to declare tax evasion as money laundering
08/12/2014
Pakistan: Government declares tax evasion as money laundering
The government has decided to declare tax evasion as money laundering.
08/11/2014
INDIA: 24,000 pieces of tax evasion data got from abroad
The bulk of the information on these foreign accounts and statements, with a basic fledgling domestic connect in each of them, has been received from New Zealand, followed by Spain, the United Kingdom, Sweden and Denmark.
08/10/2014
China Merchants Bank hedges bet over UK licence
Chinese bank also in talks with Luxembourg regulator in case of UK exit from European Union
08/07/2014
French bank latest to fall to IRD tax avoidance net
The notes allowed debt and equity to be structured across borders in the most tax-efficient way, but only if tax authorities did not deem them to be avoidance.
08/05/2014
Global Forum releases new compliance ratings on tax transparency for 10 jurisdictions
The Global Forum on Transparency and Exchange of Information for Tax Purposes has published 13 new peer review reports demonstrating progress toward implementation of the international standard for exchange of information on request.
08/04/2014
Fatca regime may have unintended consequences for financial system
Many financial institutions are still completely confused and unable to comply with the US government's Fatca regime. "Foreign Account Tax Compliance Act" sounds like another innocuous tax regulation.
08/03/2014
Hong Kong banks face global tax woe
Hong Kong’s banks, in the midst of adapting to the new US Foreign Account Tax Compliance Act, are now facing a tax headache on a global scale.
07/28/2014
Australia: New proposal for enhanced customer due diligence on all foreign nationals and review of implementation of FATCA
The Treasury recently released a discussion paper seeking submissions, along with a short consultation period which has just closed click here to see discussion paper.
07/27/2014
Singapore becomes the fourth signatory of double taxation agreement with Seychelles this year
According to the Seychelles foreign affairs ministry the agreement was signed in New York between the Seychelles Ambassador to the United Nations, Marie-Louise Potter and her Singaporean counterpart, Karen Tan on July 9.
07/21/2014
Standard for Automatic Exchange of Financial Information in Tax Matters
New single global standard for the automatic exchange of information between key authorities worldwide
07/18/2014
Black Money: India making all efforts to get Swiss banks a/c holders' list
The Finance Minister said the list of 700 illegal Indian Swiss bank account holders was received from the French government which it had received from the HSBC bank data.
07/17/2014
US entices NRIs to disclose their unreported assets
The SFOP is a game changer for non-resident and resident (who would use the Streamlined Domestic Offshore Procedures ( SDOP)) taxpayers alike
07/15/2014
Budget brings tax worries for foreign portfolio investments
It is more attractive to be based out of jurisdictions where the treaty exempts taxes
07/15/2014
Budget brings tax worries for foreign portfolio investments
The proportion of institutional investors that will be affected depends on how many of them were treating portfolio transactions as business income for tax purposes.
07/15/2014
India: Government yet to decide on tax evasion rule GAAR's implementation
The GAAR provisions were introduced in the 2012-13 budget by then finance minister Pranab Mukherjee to check tax avoidance and were originally planned to be implemented from April 1, 2014.